SlideShare a Scribd company logo
Issued by: Eskom Media Desk, Special Investigating Unit
Mobile number: Kaizer Kganyago - 082 306 8888 /
Sikonathi Mantshantsha – 083 276 0606
Email: mediadesk@eskom.co.za; kkganyago@siu.org.za
MEDIA STATEMENT
Eskom and the SIU initiate steps to recoup funds from former executives lost to State Capture
corruption
Monday, 03 August 2020: Eskom and the Special Investigating Unit have today issued
summons in the North Gauteng High Court to recover funds from former Eskom executives,
former Board members, members of the Gupta family and their associates, and others. The
funds were lost in a concerted effort corruptly to divert financial resources from Eskom, to
improperly and illegally benefit the Gupta family and entities controlled by the said family and
their associates during their 2015-16 acquisition of the operations of Optimum Coal Holdings
Limited (OCH).
This delictual claim for damages that Eskom suffered relates to the recovery of approximately
R3.8 billion in funds illegally diverted from Eskom to help the Gupta family and its associates
to acquire the operations of OCH, which owned the Optimum Coal Mining (Pty) Ltd that
supplied the Hendrina power station with coal. The further delictual claim for damages
pertains to the payments that were unlawfully made to Trillian by Eskom Executives.
The defendants are former Eskom employees Brian Molefe (Group Chief Executive Officer);
Anoj Singh (Chief Financial Officer); Matshela Moses Koko (Group Executive: Generation
and former Acting Group Chief Executive Officer); as well as Suzanne Margaret Daniels
(Company Secretary and Group Legal Head). Eskom also seeks damages against non-
executive directors Baldwin Ben Ngubane (Board Chairman); Chwayita Mabude (Board
Member); Mark Vivian Pamensky (Board Member); Mosebenzi Zwane (former government
minister of Mineral Resources); Salim Aziz Essa; Rajesh Tony Gupta; Atul Gupta and Ajay
Gupta (collectively referred to as the “Gupta Brothers”).
All of the former executives and Board members breached their fiduciary duty of care and
good faith to Eskom, and acted in a concerted State Capture effort with the Gupta Brothers,
Mosebenzi Zwane and Salim Aziz Essa to illegally divert funds from Eskom. The Gupta
Brothers owned the majority shares in entities (Oakbay Investments Limited and Fidelity
Enterprises Limited) that in turn owned the majority shares in Tegeta Resources &
Exploration. The Gupta Brothers are currently fugitives from justice in South Africa and are
based in Dubai; as well as Salim Aziz Essa, who is also a fugitive from justice in South Africa
and based in Dubai.
These 12 defendants acted in a concerted effort whose objective was the corrupt,
alternatively irregular, diversion of resources from Eskom. As a result of their actions in the
acquisition of OCH during this period, Eskom suffered at least R3.8 billion in losses which it is
legally obliged and morally burdened to recover, together with the interest thereon.
Issued by: Eskom Media Desk, Special Investigating Unit
Mobile number: Kaizer Kganyago - 082 306 8888 /
Sikonathi Mantshantsha – 083 276 0606
Email: mediadesk@eskom.co.za; kkganyago@siu.org.za
Eskom and the SIU reserve the right to pursue other individuals and entities, or to join others
to this action.
As previously stated, Eskom continues to review major contracts concluded over the years,
and where any evidence of corruption or other irregularities have been discovered, Eskom
has a moral and legal duty to cancel those contracts, and to recoup any losses it may have
suffered as a result of any illegal or irregular activity.
The SIU is investigating numerous contracts at Eskom under Proclamation R11 of 2018.
ENDS

More Related Content

More from SABC News

More from SABC News (20)

Ministry of Justice Extradition Eswatini 3.pdf
Ministry of Justice Extradition Eswatini 3.pdfMinistry of Justice Extradition Eswatini 3.pdf
Ministry of Justice Extradition Eswatini 3.pdf
 
January’s Producer Price Index increases to 4.7%
January’s Producer Price Index increases to 4.7%January’s Producer Price Index increases to 4.7%
January’s Producer Price Index increases to 4.7%
 
MEC MAJUBA SADDENED BY THE PASSING AWAY OF THREE TEACHERS FOLLOWING A CAR ACC...
MEC MAJUBA SADDENED BY THE PASSING AWAY OF THREE TEACHERS FOLLOWING A CAR ACC...MEC MAJUBA SADDENED BY THE PASSING AWAY OF THREE TEACHERS FOLLOWING A CAR ACC...
MEC MAJUBA SADDENED BY THE PASSING AWAY OF THREE TEACHERS FOLLOWING A CAR ACC...
 
ActionSA Files Public Protector Complaint Amidst Western Cape Government.docx
ActionSA Files Public Protector Complaint Amidst Western Cape Government.docxActionSA Files Public Protector Complaint Amidst Western Cape Government.docx
ActionSA Files Public Protector Complaint Amidst Western Cape Government.docx
 
Minister Gordhan Announces New Transnet Board Appointments_11 July 2023.pdf
Minister Gordhan Announces New Transnet Board Appointments_11 July 2023.pdfMinister Gordhan Announces New Transnet Board Appointments_11 July 2023.pdf
Minister Gordhan Announces New Transnet Board Appointments_11 July 2023.pdf
 
SA unemployment rate drops slightly to 32.7%
SA unemployment rate drops slightly to 32.7%SA unemployment rate drops slightly to 32.7%
SA unemployment rate drops slightly to 32.7%
 
REMNANTS OF FREDDY BRINGS HEAVY RAINS IN SOME PARTS OF SOUTH AFRICA WHICH MIG...
REMNANTS OF FREDDY BRINGS HEAVY RAINS IN SOME PARTS OF SOUTH AFRICA WHICH MIG...REMNANTS OF FREDDY BRINGS HEAVY RAINS IN SOME PARTS OF SOUTH AFRICA WHICH MIG...
REMNANTS OF FREDDY BRINGS HEAVY RAINS IN SOME PARTS OF SOUTH AFRICA WHICH MIG...
 
Letter to the Speaker re extension 14 November 2022.pdf
Letter to the Speaker re extension 14 November 2022.pdfLetter to the Speaker re extension 14 November 2022.pdf
Letter to the Speaker re extension 14 November 2022.pdf
 
Minister of Justice and Correctional Services Ronald Lamola’s Keynote Address...
Minister of Justice and Correctional Services Ronald Lamola’s Keynote Address...Minister of Justice and Correctional Services Ronald Lamola’s Keynote Address...
Minister of Justice and Correctional Services Ronald Lamola’s Keynote Address...
 
ANC Social Peace and Stability Policy Document
ANC Social Peace and Stability Policy DocumentANC Social Peace and Stability Policy Document
ANC Social Peace and Stability Policy Document
 
Education, Health, Science and Technology.pdf
Education, Health, Science and Technology.pdfEducation, Health, Science and Technology.pdf
Education, Health, Science and Technology.pdf
 
ANC Legislature and Governance Policy Document
ANC Legislature and Governance Policy DocumentANC Legislature and Governance Policy Document
ANC Legislature and Governance Policy Document
 
ANC Social Transformation Policy Document
ANC Social Transformation Policy DocumentANC Social Transformation Policy Document
ANC Social Transformation Policy Document
 
ANC Progressive Internationalism in a Changing World Policy Document
ANC Progressive Internationalism in a Changing World Policy DocumentANC Progressive Internationalism in a Changing World Policy Document
ANC Progressive Internationalism in a Changing World Policy Document
 
ANC Arts, Culture and Heritage Policy Document
ANC Arts, Culture and Heritage Policy DocumentANC Arts, Culture and Heritage Policy Document
ANC Arts, Culture and Heritage Policy Document
 
ANC Organisational Renewal Policy Document
ANC Organisational Renewal Policy DocumentANC Organisational Renewal Policy Document
ANC Organisational Renewal Policy Document
 
ANC Digital Communications and Battle of Ideas Policy Document
ANC Digital Communications and Battle of Ideas Policy DocumentANC Digital Communications and Battle of Ideas Policy Document
ANC Digital Communications and Battle of Ideas Policy Document
 
ANC Strengthening Economic Recovery and Reconstruction to Build an Inclusive ...
ANC Strengthening Economic Recovery and Reconstruction to Build an Inclusive ...ANC Strengthening Economic Recovery and Reconstruction to Build an Inclusive ...
ANC Strengthening Economic Recovery and Reconstruction to Build an Inclusive ...
 
Changing Balance of Forces
Changing Balance of ForcesChanging Balance of Forces
Changing Balance of Forces
 
Rev_SACAA. Response to DA Shadow Minister [5].docx
Rev_SACAA. Response to DA Shadow Minister [5].docxRev_SACAA. Response to DA Shadow Minister [5].docx
Rev_SACAA. Response to DA Shadow Minister [5].docx
 

Recently uploaded

R$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatórios
R$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatóriosR$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatórios
R$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatórios
Maurílio Júnior
 
PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...
PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...
PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...
Faga1939
 

Recently uploaded (20)

25052024_First India Newspaper Jaipur.pdf
25052024_First India Newspaper Jaipur.pdf25052024_First India Newspaper Jaipur.pdf
25052024_First India Newspaper Jaipur.pdf
 
Meta_AI_ads_investigation.pdfldoljjwejolejolol
Meta_AI_ads_investigation.pdfldoljjwejolejololMeta_AI_ads_investigation.pdfldoljjwejolejolol
Meta_AI_ads_investigation.pdfldoljjwejolejolol
 
Embed-3-1-1.pdf The ECI direction on April 2, 2024 can be read here:
Embed-3-1-1.pdf  The ECI direction on April 2, 2024 can be read here:Embed-3-1-1.pdf  The ECI direction on April 2, 2024 can be read here:
Embed-3-1-1.pdf The ECI direction on April 2, 2024 can be read here:
 
2024 - Love and Madness - a book about love, madness, heartbreak and politics
2024 - Love and Madness - a book about love, madness, heartbreak and politics2024 - Love and Madness - a book about love, madness, heartbreak and politics
2024 - Love and Madness - a book about love, madness, heartbreak and politics
 
Nika Muhl Visa Approval Shirt, Nika Muhl Visa Approval T-Shirt
Nika Muhl Visa Approval Shirt, Nika Muhl Visa Approval T-ShirtNika Muhl Visa Approval Shirt, Nika Muhl Visa Approval T-Shirt
Nika Muhl Visa Approval Shirt, Nika Muhl Visa Approval T-Shirt
 
Minnesota Timberwolves Bring Ya Ass T Shirt
Minnesota Timberwolves Bring Ya Ass T ShirtMinnesota Timberwolves Bring Ya Ass T Shirt
Minnesota Timberwolves Bring Ya Ass T Shirt
 
R$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatórios
R$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatóriosR$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatórios
R$ 78 milhões: Estado aprova 593 propostas para acordos diretos de precatórios
 
Embed-4-3 (1).pdf cvxx'f['df[p'lf][l][fl][fl][][l[
Embed-4-3 (1).pdf cvxx'f['df[p'lf][l][fl][fl][][l[Embed-4-3 (1).pdf cvxx'f['df[p'lf][l][fl][fl][][l[
Embed-4-3 (1).pdf cvxx'f['df[p'lf][l][fl][fl][][l[
 
24052024_First India Newspaper Jaipur.pdf
24052024_First India Newspaper Jaipur.pdf24052024_First India Newspaper Jaipur.pdf
24052024_First India Newspaper Jaipur.pdf
 
Textile Waste In India | Textile Waste Management
Textile Waste In India | Textile Waste ManagementTextile Waste In India | Textile Waste Management
Textile Waste In India | Textile Waste Management
 
23052024_First India Newspaper Jaipur.pdf
23052024_First India Newspaper Jaipur.pdf23052024_First India Newspaper Jaipur.pdf
23052024_First India Newspaper Jaipur.pdf
 
Mizzima Weekly Analysis & Insight Issue 1
Mizzima Weekly Analysis & Insight Issue 1Mizzima Weekly Analysis & Insight Issue 1
Mizzima Weekly Analysis & Insight Issue 1
 
PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...
PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...
PEACE BETWEEN ISRAEL AND PALESTINE REQUIRES EXTREMISTS OUT OF POWER AND RESTR...
 
israeil_bnetaniahou_panel_report_eng.pdf
israeil_bnetaniahou_panel_report_eng.pdfisraeil_bnetaniahou_panel_report_eng.pdf
israeil_bnetaniahou_panel_report_eng.pdf
 
May 2024 - Crypto Market Report_FINAL.pdf
May 2024 - Crypto Market Report_FINAL.pdfMay 2024 - Crypto Market Report_FINAL.pdf
May 2024 - Crypto Market Report_FINAL.pdf
 
21052024_First India Newspaper Jaipur.pdf
21052024_First India Newspaper Jaipur.pdf21052024_First India Newspaper Jaipur.pdf
21052024_First India Newspaper Jaipur.pdf
 
Encore portal Project PPt on live portal
Encore portal Project PPt on live portalEncore portal Project PPt on live portal
Encore portal Project PPt on live portal
 
Dominican American Coalition PAC Executive Summary
Dominican American Coalition PAC Executive SummaryDominican American Coalition PAC Executive Summary
Dominican American Coalition PAC Executive Summary
 
Embed-4-1-1.pdf vm ;sdkp[kdp[kpdkpodp;p;j
Embed-4-1-1.pdf vm ;sdkp[kdp[kpdkpodp;p;jEmbed-4-1-1.pdf vm ;sdkp[kdp[kpdkpodp;p;j
Embed-4-1-1.pdf vm ;sdkp[kdp[kpdkpodp;p;j
 
Have A Complimentary Cheat Sheet, On Us!!!
Have A Complimentary Cheat Sheet, On Us!!!Have A Complimentary Cheat Sheet, On Us!!!
Have A Complimentary Cheat Sheet, On Us!!!
 

Media statement - Eskom and the SIU initiate steps to recoup funds Guptas

  • 1. Issued by: Eskom Media Desk, Special Investigating Unit Mobile number: Kaizer Kganyago - 082 306 8888 / Sikonathi Mantshantsha – 083 276 0606 Email: mediadesk@eskom.co.za; kkganyago@siu.org.za MEDIA STATEMENT Eskom and the SIU initiate steps to recoup funds from former executives lost to State Capture corruption Monday, 03 August 2020: Eskom and the Special Investigating Unit have today issued summons in the North Gauteng High Court to recover funds from former Eskom executives, former Board members, members of the Gupta family and their associates, and others. The funds were lost in a concerted effort corruptly to divert financial resources from Eskom, to improperly and illegally benefit the Gupta family and entities controlled by the said family and their associates during their 2015-16 acquisition of the operations of Optimum Coal Holdings Limited (OCH). This delictual claim for damages that Eskom suffered relates to the recovery of approximately R3.8 billion in funds illegally diverted from Eskom to help the Gupta family and its associates to acquire the operations of OCH, which owned the Optimum Coal Mining (Pty) Ltd that supplied the Hendrina power station with coal. The further delictual claim for damages pertains to the payments that were unlawfully made to Trillian by Eskom Executives. The defendants are former Eskom employees Brian Molefe (Group Chief Executive Officer); Anoj Singh (Chief Financial Officer); Matshela Moses Koko (Group Executive: Generation and former Acting Group Chief Executive Officer); as well as Suzanne Margaret Daniels (Company Secretary and Group Legal Head). Eskom also seeks damages against non- executive directors Baldwin Ben Ngubane (Board Chairman); Chwayita Mabude (Board Member); Mark Vivian Pamensky (Board Member); Mosebenzi Zwane (former government minister of Mineral Resources); Salim Aziz Essa; Rajesh Tony Gupta; Atul Gupta and Ajay Gupta (collectively referred to as the “Gupta Brothers”). All of the former executives and Board members breached their fiduciary duty of care and good faith to Eskom, and acted in a concerted State Capture effort with the Gupta Brothers, Mosebenzi Zwane and Salim Aziz Essa to illegally divert funds from Eskom. The Gupta Brothers owned the majority shares in entities (Oakbay Investments Limited and Fidelity Enterprises Limited) that in turn owned the majority shares in Tegeta Resources & Exploration. The Gupta Brothers are currently fugitives from justice in South Africa and are based in Dubai; as well as Salim Aziz Essa, who is also a fugitive from justice in South Africa and based in Dubai. These 12 defendants acted in a concerted effort whose objective was the corrupt, alternatively irregular, diversion of resources from Eskom. As a result of their actions in the acquisition of OCH during this period, Eskom suffered at least R3.8 billion in losses which it is legally obliged and morally burdened to recover, together with the interest thereon.
  • 2. Issued by: Eskom Media Desk, Special Investigating Unit Mobile number: Kaizer Kganyago - 082 306 8888 / Sikonathi Mantshantsha – 083 276 0606 Email: mediadesk@eskom.co.za; kkganyago@siu.org.za Eskom and the SIU reserve the right to pursue other individuals and entities, or to join others to this action. As previously stated, Eskom continues to review major contracts concluded over the years, and where any evidence of corruption or other irregularities have been discovered, Eskom has a moral and legal duty to cancel those contracts, and to recoup any losses it may have suffered as a result of any illegal or irregular activity. The SIU is investigating numerous contracts at Eskom under Proclamation R11 of 2018. ENDS